A rush to pull out cash from Countrywide
Worried about the stability of mortgage giant Countrywide Financial, depositors crowd branches. In Laguna Niguel, Bill Ashmore drove his Porsche Cayenne to the bank’s office and waited half an hour to cash out $500,000.
(tags: Finance stocks economics realestate credit loans)
Behind the Financial Crisis: Info Failure
Markets can’t work when […]
Original post by FeedZilla
The steep paper losses that China has suffered on its $3 billion investment in Blackstone Group will not deter its embryonic sovereign wealth fund from making further investments in private equity and hedge funds, according to a senior official.
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BOSTON (MarketWatch) — While experts routinely tell fund investors to ignore the day-to-day deviations of the stock market, shareholders should understand the difference between overreacting and simply reacting. And based on what has been going on in the mortgage and credit markets, this is a time for bond-fund investors to react and take some protective action.
Original post by FeedZilla
(Note: I’m still on semi-vacation. Posting will resume its normal pace in September.)
Well, it was another very volatile week in the markets. We had what looked like a solid reversal day on Thursday but futures were getting crushed in the pre-market on Friday. Then the Plunge Protection Team (aka the […]
Original post by FeedZilla
The Chairman posted a link to an article about a “bank run” on Countrywide Financial Corp. (CFC) . I just had to shake my head and laugh after reading that article. I’ve been watching that company, which happens to hold my mortgage, closely this year. Back in March when the subprime/credit […]
Original post by FeedZilla
The Dubai Financial Market (DFM) has revealed that the value of shares and bonds bought by foreign investors last week reached $246.9m, comprising 29.7% of the total value of stocks traded. The amount of stock sold by foreign investors during the same period reached $435.7m, comprising 51.4% of the total. Meanwhile, the value of shares bought by institutional investors last week reached $182.7m.
Original post by FeedZilla
Saudi Arabia’s Al Rajhi Bank and Investment Corporation has said inflation in the kingdom should rise to 2.8% this year, up from 2.2% last year, reported Arab News. Official date suggested inflation was actually at 3.1% in June, due to increased costs of food and housing. A separate report by Citigroup suggested inflation would average 2.7% in Saudi this year, with heavy investment in infrastructure driving up the costs of construction.
Original post by FeedZilla
The Tadawul All Share Index enjoyed a very modest gain of just under 0.2% as it kicked off a new trading week. The Tasi ended the day at 7,913.2 points, a gain of 12.3 points, with a total of $2.4bn worth of stock changing hands. The biggest gainer was the Alahli Takaful Company which advanced 997.5% from SR10 a share to nearly SR109.8, as it made its debut on the bourse.
Original post by FeedZilla
In case you missed them, here are the top 10 Personal Finance stories from MarketWatch for the week of Aug. 13-17:
Original post by FeedZilla
NEW YORK (MarketWatch) — U.S. stocks surged Friday, with the Dow adding more than 200 points, after the Federal Reserve’s unexpected intervention, yet still ended with weekly losses.
Original post by FeedZilla